Corn price action is just fractionally lower this morning. Futures closed the Friday session with contracts down 4 to 6 cents across most nearbys, as December expired. March settled last week with a 4 cent loss. Friday’s open interest was up 17,121 contracts. The CmdtyView national average Cash Corn price was down 5 1/2 cents at $3.96 3/4.
Export Sales data will get another catchup this morning, with traders looking for 1.1-2.2 MMT in corn sales during the week ending on 11/20.
CFTC data was released on Friday afternoon showing data for the week ending on November 18, with managed money flipping to a net long of 38,127 contracts. That was a 77,650 contract move on the week. Another update will be released this afternoon.
Nearby Cash was $3.96 3/4, down 5 1/2 cents,
Mar 26 Corn closed at $4.40 3/4, down 5 3/4 cents, currently down 1/2 cent
May 26 Corn closed at $4.49, down 5 1/4 cents, currently down 1/4 cent
